The growth stage is marked by a rapid climb in the sale. The early adopters like the product, and the middle majority consumers start buying…

At some time, a product’s rate of sales growth will slow down and the product will outer a stage of relative maturity. The maturity stage…

The firm improves product quality and adds new product features and improved styling. The firm adds new models and flanker products. It enters new market…

The company can try to expand the number of brand users in three ways: a) Convert Non Users: The company can attract non users to…

In the maturity state, some companies abandon their weaker products, believing there is little they can do. They think the best thing is to conserve…

Managers also try to stimulate sales by modifying the product’s characteristics. This can take several forms: a) A strategy of quality movement aims at increasing…

The sales of most product forms and brands eventually decline. Sales decline for a number of reasons including technological advances, consumer shifts in tastes and…

Product managers might also try to stimulate sales by modifying one or more marketing mix elements which include Prices, Distribution, Services, Advertising, Sales Promotion or…

Increasing the firm’s investment (to dominate or strengthen its competitive position) Maintaining the firm’s investment level until the uncertainties about the industry are resolved Decreasing…

Packaging is an activity of designing and producing the container or wrapper for a product. The container or wrapper is called the package. The package…